The Singapore Market This Week: Genting Singapore PLC Leads the Pack

This week, the Straits Times Index (SGX: ^STI) inched up by a mere 4 points, or 0.2%, to end Friday at 2,745 points. Of the 30 stocks that make up the index, 15 had made gains during the week, 13 clocked losses, while the rest finished the week unchanged.

The biggest winner in the index happened to be casino operator Genting Singapore PLC (SGX: G13). Its shares had climbed by 4% to S$0.785. This was despite the company posting dismal 2016 first-quarter results.

The firm announced on Friday that its revenue had declined from S$639 million in the first-quarter of 2015 to S$608 million in…

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This week, the Straits Times Index (SGX: ^STI) inched up by a mere 4 points, or 0.2%, to end Friday at 2,745 points. Of the 30 stocks that make up the index, 15 had made gains during the week, 13 clocked losses, while the rest finished the week unchanged.

The biggest winner in the index happened to be casino operator Genting Singapore PLC(SGX: G13). Its shares had climbed by 4% to S$0.785. This was despite the company posting dismal 2016 first-quarter results.

The firm announced on Friday that its revenue had declined from S$639 million in the first-quarter of 2015 to S$608 million in the reporting quarter, a fall of 5%. This was mainly on the back of lower gaming revenue from the company’s casino in Singapore. Meanwhile, the firm’s net profit had tumbled by 56% year-on-year to S$40 million, largely due to lower other operating income.

Other blue-chip companies that have posted their quarterly results this week include SIAEngineering Company Ltd (SGX: S59), Singapore Technologies Engineering Ltd(SGX: S63), and Singapore Telecommunications Limited(SGX: Z74). You can read up their earnings report in here, here, and here.

Outside the index, shares of Eu Yan Sang International Ltd.(SGX: E02) had shot up by 21.7% to end the week at S$0.645.

The company, which specialises in the retail of Traditional Chinese Medicine, was queried on Tuesday by bourse operator Singapore Exchange Limited (SGX: S68) on the reason for its ballooning of share price. Following that, the firm requested for a trading halt around an hour later for an announcement. Eu Yan Sang’s shares have been halted for trading ever since and there is talk that the firm may be taken private.

The SPDR STI ETF(SGX: ES3), an exchange-traded fund which tracks the fundamentals of the Straits Times Index, is now going at 11.3 times trailing earnings and has a dividend yield of 3.6%.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.

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